The Canada Revenue Agency (CRA) has announced the fourth GST/HST credit payment date for 2024, which will be disbursed to eligible Canadians on October 5, 2024. This quarterly payment is part of the ongoing effort to provide financial relief to low and moderate-income individuals and families across Canada.
What is GST/HST Credit?
The GST/HST credit is a tax-free payment made by the CRA to help individuals and families offset the cost of the Goods and Services Tax (GST) or the Harmonized Sales Tax (HST). This credit is distributed four times a year, in January, April, July, and October, providing crucial financial assistance to those who qualify.
Canada GST HST 2024 Payment: An Overview
| Article Title | Canada GST HST 2024 Payment |
| Country | Canada |
| Department | Canada Revenue Agency |
| Year | 2024 |
| Climate Action Incentive Payment (CAIP) | 15th October, and 15th January, 2025 |
| Canada GST HST 4th Quarter Payment Date 2024 | 4th October, 2024 |
| Official Website | https://www.canada.ca/ |
Eligibility Criteria
To be eligible for the GST/HST credit, you must meet several criteria:
- Age Requirement: You must be at least 19 years old before the month in which the CRA issues the payment.
- Residency Status: You must be considered a Canadian resident for income tax purposes at the beginning of the month in which the payment is made.
- Income Requirement: The GST/HST credit is primarily targeted at low to moderate-income individuals. Your eligibility is determined based on your income tax return from the previous year. Even if you had no income in 2023, you are still required to file a tax return to be eligible for the 2024 GST/HST payments.
- Special Conditions for Under-19s: If you are under 19, you may still qualify if you are married, have a common-law partner, or are a parent and live with your child.
How to Register for GST/HST Credit
If you meet the eligibility criteria, registering for the GST/HST credit is straightforward. Here’s how:
- Tax Filing: Ensure that you file your income tax return for the previous year. This is essential even if you had no income during the year.
- Automatic Assessment: Once your tax return is processed, the CRA will automatically assess your eligibility for the GST/HST credit. If you qualify, you will be notified, and payments will be directly deposited into your bank account or sent via cheque.
- Newcomers to Canada: If you’re new to Canada, you must submit Form RC151 to apply for the GST/HST credit and Climate Action Incentive payment. Parents should also fill out Form RC66 for child benefits.
Payment Dates in 2024
The GST/HST credit is paid out quarterly on the following dates:
- January 5, 2024
- April 5, 2024
- July 5, 2024
- October 5, 2024
If you do not receive your payment within 10 working days after these dates, it is advisable to contact the CRA via their official website, Canada.ca.
Why This Matters
For many Canadians, the GST/HST credit is a vital source of financial support that helps alleviate the burden of taxes on essential goods and services. By ensuring timely registration and filing of tax returns, eligible individuals and families can maximize the benefits of this program throughout the year.
This initiative underscores the Canadian government’s commitment to supporting its citizens, particularly those who may struggle with the rising costs of living. As we approach the final payment date for 2024, it’s essential for eligible Canadians to stay informed and ensure they are registered to receive their benefits.
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